What Are your Loan Modification Results?
Hey, Have you ever tried for the loan modification? If yes, than please let the other readers of this blog know that what were your results? This is because recently one of my friend living in California applied for the loan modification but his bank only wants to reduce his monthly mortgage payment by $ 100 only which is worthless in this case.
Tell me that What are your results? How much money your lender wants to reduce? How much interest rate your bank wants to reduce?
I have suggested my friend to apply the strategies given in the 60-Minute Loan Modification workbook by Mike Rockwood. This is because California based Mike has successfully modified his 5 California based mortgage loans and shaved literally half a million dollars from his over all mortgage loan tenure. And I think that this is the best way to prevent foreclosure.
Just try it and let me know about your experience. Most of the time your lender will agree to reduce just few hundred dollars from your monthly mortgage payment which may not be enough to stop foreclosure of your property and that’s why you should have the proper information about the loan mod process to get approved by your terms and not your lender’s.